China defended free trade against protectionism of Trump

Chinese President Xi Jinping urged today in Lima the leaders of the Asia-Pacific Economic Cooperation (APEC) to support the proposed regional agreement by China to fill the possible gap by a refusal of the United States of Trans-Pacific Partnership (TPP).

“The establishment of the Free Trade Area of the Asia Pacific (FTAAP) is a vital strategic initiative for the prosperity of the region in the long run”, said the Chinese President, Xi Jinping. “We will not close the door to the outside world and will open even wider”, added he.

In this way Xi Jinping answered indirectly to the newly elected US president Donald Trump, who promised tightening of protectionism to protect jobs in the US against cheap Chinese or Mexican competition. Donald Trump focused particularly sharply his campaign against TPP signed in 2015 between the 12 countries of the region, which was highly supported by President Barack Obama.

“We should firmly pursue the FTAAP as an institutional mechanism for ensuring an open economy in the Asia-Pacific”, said also the Chinese President. “The Asia-Pacific is under similar pressure and is grappling with such challenges as the fragmentation of regional economic cooperation. For any regional trade arrangement to gain broad support, it must be open, inclusive and beneficial to all”, added Xi Jinping.

In Lima, Chinese President defended the draft trade agreement between the Association of Southeast Asian Nations (ASEAN), excluding the United States. Later today Xi Jinping will meet for the last time with US president Barack Obama.